First Reserve to acquire Applied-Cleveland from Nautic Partners.

First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy, has agreed to acquire Applied-Cleveland, a leading provider of inspection and integrity management services for energy infrastructure assets from Nautic Partners, private equity firm. Financial terms were not disclosed. “Applied-Cleveland is an excellent strategic fit for First Reserve with our long history of supporting and growing businesses providing services to the energy infrastructure end-markets. We welcome the opportunity to partner with A-C in its next phase of growth and believe the company is positioned to be a key participant in the refurbishment and maintenance of significant energy infrastructure assets in North America over the coming years.” Jeff Quake and Gary Reaves, First Reserve Managing Directors.